The government is putting the "super profits" it makes from residential developments ahead of housing affordability, Opposition Leader Alistair Coe says.
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Latest figures revealed the government made 70 per cent profit on suburban residential land developments in 2018-19.
The government's total revenue for the developments sat at $292 million with gross profit coming in at $206 million, according to the figures released in response to questions taken on notice.
Mr Coe said home owners and renters were being forced to pay for the "super profits".
He claimed the profit margin was three times higher than private developments and showed the government was ripping off Canberrans.
He said while land prices shouldn't fall, the growth rate should be more sustainable.
"Increasing the supply of land is central to any remedy for the situation but it is going to take time," Mr Coe said.
"The last thing that anyone should do is flood the market."
"The government's super profits are as a result of them deliberately restricting the supply of land and therefore driving up the price.
"The government through their actions set the price of land and they have set it extremely high.
"We have a land affordability crisis in Canberra and the ACT Labor government is completely responsible for that."
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He said the government was abusing its position of authority as the land owner, planner, developer and seller.
"At a time when so many people are struggling with the cost of living, it is heartless and irresponsible for Labor to gouge the people they're meant to represent," Mr Coe said.
The government maintains it sells land, as required by law, at a price set by independent valuers.
"The ACT government has a responsibility to appropriately manage available publicly owned land as a scarce resource to ensure the community sees a benefit to land being sold for private use," a spokeswoman for Minister for Housing Yvette Berry said.
She said there were about 600 available blocks awaiting sale across the territory.
"The government rejects claims that it has deliberately constrained land supply," the spokeswoman said.
She said the government had released a mix of land capable of various housing types over the past nine years totalling more than 35,000 dwellings. Single residential block releases over this period totalled more than 10,000 dwellings.
She said the ACT government's indicative land release program aimed to make sure enough land was released to the market to cater for Canberra's growth and change, taking into consideration changes in population, changes in household and community needs, and shifts in economic activity.
"Profits made on publicly owned land is returned to the ACT community through the ACT government," the spokeswoman said.